hovnanian enterprises-a (HOV) Snapshot

Hovnanian Enterprises Inc. announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2013. For the quarter, the company reported total revenues of $422,998,000 against $341,698,000 a year ago. Loss before income taxes was $1,265,000 against profit of $2,338,000 a year ago. Net income was $1,318,000 or $0.01 per basic and diluted share against $1,802,000 or $0.01 per basic and diluted share a year ago. EBIT was $32,641,000 against $41,711,000 a year ago. EBITDA was $34,930,000 against $44,203,000 a year ago. Adjusted EBITDA was $37,121,000 against $20,469,000 a year ago. Total revenues continue to increase year-over-year due to increased volumes, higher selling prices for homes and mix. For the six months, the company reported total revenues of $781,209,000 against $611,297,000 a year ago. Loss before income taxes was $22,067,000 against $15,224,000 a year ago. Net loss was $9,990,000 or $0.07 per basic and diluted share against $16,463,000 or $0.15 per basic and diluted share a year ago. EBIT was $46,119,000 against $58,620,000 a year ago. EBITDA was $50,774,000 against $63,733,000 a year ago. Adjusted EBITDA was $53,630,000 against $23,220,000 a year ago. For the second quarter, the company reported inventory impairment loss and land option write-offs was $2,191,000 compared to $3,216,000 reported a year ago. The company expects the fourth quarter of fiscal 2013, producing the strongest results. The company is reiterating guidance that will be profitable for all of fiscal 2013, with expect revenues to continue to increase and gross margins expected to continue to improve.

Hovnanian Enterprises Inc., Q2 2013 Earnings Call, Jun 05, 2013

Hovnanian Enterprises Inc. announced that they will report Q2, 2013 results at 2:15 PM, GMT Standard Time on Jun 05, 2013